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The Importance of Right Timing in the Oil and Gas Industry

Our last PMI PUB was hosted by Sopra Steria at their office in Oslo. The presenter was Frederik Steenbuch, a senior consultant in his company Capricorn Offshore AS. He gave us some insight into the importance of right timing in the oil & gas industry, using a real-life project which involved the development of a 5000 tonne crane vessel by a small group of initiators in the early 2000s.

He described the major activities that were necessary to execute the project, e.g., business plan, specifications, agreements with engineering contractor, financing, mobilizing resources, etc.

He also touched on changes in the supply chain that has happened in the last decade, which allows for more co-operation between the players, instead of tough competition that usually produced unrealistic bids.